Global Laboratory Robotics Market - Drivers and Forecast from Technavio

Technavio has announced the release of their 'Global Laboratory Robotics Market 2017-2021' report. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global laboratory robotics market to grow to USD 214.5 million by 2021, at a CAGR of more than 8% over the forecast period, according to their latest report.

The research study by Technavio on the global laboratory robotics market for 2017-2021 provides detailed industry analysis based on end-user (clinical laboratories and research laboratories) and geography (the Americas, EMEA, and APAC).

 
Laboratory robots are automated products deployed for various applications in pharmaceutical and chemical laboratories. The Americas are the largest adopters of laboratory robotics technology, driven by the growing demand for better quality and efficiency in patient care delivery services.
 

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Technavio analysts highlight the following three factors that are contributing to the growth of the global laboratory robotics market:

  • Addressing productivity and cost management in laboratories
  • Enhancements in product delivery, quality, and accuracy
  • Incorporating human and product safety

Addressing productivity and cost management in laboratories

Laboratories are integrating robots to streamline their daily activities while reducing the operational and overhead costs. The adoption of laboratory robotics also reduces the expenditure incurred through the procurement of samples, consumables, and reagents,” says Bharath Kanniappan, a lead analyst at Technavio for robotics research.

It has been observed that approximately 50%–60% of the operational cost can be saved in clinical and research laboratories through the adoption of robotics. Implementation of robotic technologies is a one-time investment that can help chemical and pharmaceutical businesses in generating a higher profit by minimizing the time required for process completion.

Enhancements in product delivery, quality, and accuracy

The adoption of robots in research and clinical laboratories has clearly enhanced the productivity and overall quality and accuracy of the work conducted in these units. Since robots display higher efficiency and speed when compared to human beings, the average time spent doing manual labor is significantly decreased.

Robots also possess the flexibility to be programmed based on user requirements, providing not only high-quality output but also producing reproducible and reliable results. These advantages are attractive to laboratories, thereby encouraging higher adoption.

Incorporating human and product safety

A number of laboratories deal with processes and chemicals that can cause complications for the health and safety of the technicians working there. Also, to ensure compliance with the regulatory and safety protocols in place, laboratories have initiated businesses to adopt robotic technologies for critical process applications.

The robots deployed in laboratories are capable of assisting businesses to execute day-to-day operations while ensuring the safety of human life and property. Robots are set to become essential supporting entities aiding with the safe and streamlined functioning of labs,” says Bharath.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio has announced the release of their Global Laboratory Robotics Market 2017-2021 report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com